The legacy that changed the underwriting room
The broader significance of Surfside’s anniversary for the industry lies not in DAMAC’s struggles alone, but in the change in momentum across systemic changes. The event also resumed on Monday, when NIST released its long-awaited technical findings. Federal investigators concluded that the collapse began several weeks before June 24, 2021, when two connections between the garage column and the pool deck began to fail. Investigators found that the original structure, in some places, was built with less than half the code-required strength – a deficiency that had been present since the day the building opened in 1981. NIST’s full written report, including code and practice recommendations, is still being prepared.
